Bancfirst Provides SBA Loan to Buy Grandy's Franchise

Need a loan to purchase a Grandy's franchise? Bancfirst has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Grandy's franchise is doable. In 2004, Bancfirst issued an SBA franchise loan to an entrepreneur in Moore, Oklahoma. Because Grandy's was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

D&J RICHIE, INC.
MOORE, OK 73160

SBA Loan Lender

BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102

When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to give speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/22/2004

Loan Approval Gross Amount

$343,400

Loan Approval from the SBA

Of the total $343,400 loan amount, the SBA guaranteed $257,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Grandy's franchise. At the time of the loan, the company had 75 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Grandy's, Inc.

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